Cloud-Based Collaboration Software Market - Industry Growth Analysis by Size, Share, Global Market Demand, Future Opportunity during 2018-2027

(MENAFN- America News Hour) Global Cloud-Based Collaboration Software Market Overview

Software Industry has a huge demand for cloud-based collaboration software. Developers work with different types of programming languages and source codes using this software widely. One of the advantages of cloud-based collaboration software is that it can integrate with several services that are provided by the third party such as google drive and dropbox. Cloud-based collaboration software allows the users to connect effectively which will help to eliminate application slowness associated while using numerous communication applications.

Due to the increase in the adoption rate of cloud-based solutions among small to medium enterprises cloud-based collaboration software market is expected to grow during the forecasted period. Increasing data flow and changing data structures has made a tough job for the organizations to manage it. Apart from this, increasing storage capacity is an expensive task as they need computing power and new infrastructure. Therefore companies are adopting cloud-based collaboration software and other cloud base services since they can offer great storage capacity increased productivity and easy access.

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Market Size and Forecast

The cloud-based collaboration software market, in terms of value, is expected to grow rapidly during the forecasting period at a CAGR of around 11.19%. Business enterprises install cloud infrastructure which creates a market opportunity for infrastructure as a service provider to establish their presence in a cloud-based collaboration software market. Cloud-based collaboration software increases the productivity of the business, makes the business information system more flexible and increases the efficiency of service. Cloud-based collaboration software provides a communication system that allows the real-time exchange of information and data and is also very cost-effective in information sharing.

North America holds the largest market share in terms of revenue due to the presence of a large number of cloud-based solution providers. Most of the companies are driving towards cloud computing to increase productivity and data & information storage capacity. Automation is one of the key factors catching on in this region due to which businesses do not require a team to handle system updates and back-ups. Most of the world's largest technology companies are located in this region which makes North America the leading market for cloud-based collaboration software.

Asia Pacific is anticipated to be the fastest-growing market among other regions. This growth can be attributed to the increasing demand for advanced technology in different sectors. Companies are adopting cloud-based collaboration software in order to offer better services to their customers. Increasing small and medium enterprises in developing countries such as China and India helps to grow the market of cloud-based collaboration software in this region.

Increasing demand for BYOD (Bring your own device) policy among enterprises also contributing to the growth of cloud-based collaboration software market in this region. Latin America and the Middle East region showcase a significant growth due to the explosion of new technologies and increasing opportunities for industry participants.

Leading Key Players of Global Market

Microsoft Corp. 
Company Overview
Key Product Offerings
Business Strategy
SWOT Analysis
Financials 
Google
Slack Technologies Inc.
Salesforce.com Inc.
Jive Software Inc.
Mitel Networks Corporation
Box Inc.
Aspect software
Cisco systems
Oracle
and Other Notable Key Players

Market Segmentation

Our-in depth analysis of the global cloud-based collaboration software market includes the following segments:

By Deployment Model

Public cloud
Private cloud
Hybrid cloud
By Service Type

Software-as-a-service (Saas)
Platform-as-a-service (Paas)
Consulting
Maintenance and support
By Solution Type

Unified Communication and Collaboration
Document management system
Project and team management
Enterprise social collaboration
By Enterprise Size Type

Small and Medium Enterprises
Large Enterprises
By Vertical Type

IT and Telecom
BFSI
Retail
Government
Manufacturing
Media and Entertainment
Others
By Region

The global cloud-based collaboration software market is further classified on the basis of region as follows:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
The Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Cloud-Based Collaboration Software Market

Growth Drivers and Challenges

The benefit of cloud-based collaboration software is that the documents are kept within the same workplace which avoids keeping a track of different versions of attachments. Software services such as Software-as-a-service (SaaS) are implemented by enterprises which are considered as a major factor that stimulates the growth of the cloud-based collaboration software market. Software as a service eliminates the need for enterprises to install and run applications on their own systems, which further helps in reducing the expense of hardware acquisition. Bring your own device and the growing trend of mobility also contributing to the growth of cloud-based collaboration software market globally.

Cloud-based collaboration software helps the enterprise to increase workforce productivity. Accessibility is one of the benefits of cloud-based collaboration software. As cloud-based software helps the enterprises or the user to access their data from anywhere and anytime. Cloud-based collaboration software is assets to businesses working remotely or from overseas as the data is stored on the cloud which can be accessed from anywhere and anytime.

With the help of cloud servers, several networks can be interconnected to deliver data storage services across the globe. The key attraction of cloud-based collaboration software is automation as it helps to release essential internal resources for other high-priority work. An increase in the usage of smartphones and tablets also triggers the growth of cloud-based collaboration software. Security is the major concern as the data can be easily accessible from anywhere and anytime, therefore many companies do not want to take the risk of using cloud-based collaboration software. High internet is required to access data from the cloud which acts as one of the restraints for cloud-based collaboration software market.

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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